NACA, the nonprofit organization dedicated to economic justice and housing advocacy, is making significant strides in revolutionizing mortgage lending and affordable housing development across the United States. For over 40 years, NACA has been at the forefront of this movement, offering a unique mortgage program that requires no down payment, no closing costs, and no credit score consideration, all while providing below-market fixed rates. With over $20 billion available for its mortgage program, NACA has successfully facilitated more than 75,000 mortgages, boasting an impressive foreclosure rate of just 0.00012%.

The organization is also addressing the needs of individuals facing financial distress through its Home Safe program, which has modified high-interest loans for over 500,000 homeowners during economic downturns. NACA's CEO, Bruce Marks, highlighted the organization's latest initiative to combine its mortgage offerings with advanced modular home technology, aiming to create affordable, climate-resilient homes that meet and exceed state and federal standards.

In addition to its mortgage programs, NACA has introduced the Hot PHA initiative, which allows housing choice voucher recipients to transition into homeownership. This program has been successfully implemented in cities like Newark, New Jersey, and Selma, Alabama, enabling participants to leverage their vouchers to significantly reduce their monthly mortgage payments. For example, a Newark resident shared her experience of purchasing a home valued at $185,000, with her monthly payment reduced to just $250 due to the assistance provided by the housing authority.

NACA's efforts extend nationwide, with operations in all 50 states and partnerships with various housing authorities to facilitate homeownership for low- to moderate-income families. The organization is committed to not only providing financing but also offering counseling services to ensure that potential homeowners are well-prepared for the responsibilities of homeownership.

As NACA continues to expand its reach and impact, it remains focused on transforming neighborhoods and providing realistic opportunities for individuals who previously thought homeownership was out of reach. The organization's innovative approach to mortgage lending and housing development is poised to make a lasting difference in communities across the country.